5th February 2019
A key government-appointed inquiry into misconduct and other issues within the Australian banking sector has highlighted a need to reform culture within the industry, and revealed issues of ‘greed’ within industry, where the drive for profit supersedes customer care. In its final report published on Monday, the Royal Commission said… Read More
4th February 2019
The Monetary Authority of Singapore (MAS) has clarified its stance on whether remittance firms can lend out money following a query about their operations. The query, which was published in the Straits Times, said that many maids were being paid through a remittance firm. In its response, the… Read More
4th February 2019
Businessman and Putin critic Bill Browder has hit out at what he says is the United Kingdom’s reluctance to investigate money laundering. He also alleged that British lawmakers took bribes to prevent probes. Addressing the European Parliament this week, Browder said: “Some people are benefiting from this flow of money… Read More
4th February 2019
Denmark’s top lender Danske Bank has been named the winner of the 2019 Corrupt Actor of the Year over its €200 billion money laundering affair exposed in 2018, and which was considered to the biggest scandal in Europe. Details of the stunning banking scandal were made bare in… Read More
1st February 2019
Police have launched a crackdown on a gang that collected money from individuals in different European countries, allegedly claiming they would make profitable investments, but instead used it for their own profit. Over 60 investors fell victim to the organised crime group, which was involved in large-scale financial fraud… Read More
1st February 2019
Standard Chartered has landed in trouble with US authorities after it was found to have failed to effectively supervise its forex (fx) business and ensure compliance with laws. On Tuesday, the New York Department of Financial Services (DFS) said it has fined the bank $40 million for attempting to rig… Read More
1st February 2019
An MP on a parliamentary media committee has reportedly called for transparency about the ownership of the London Evening Standard following a report that the newspaper’s main owners are refusing to reveal the identity of a new stakeholder. According to the Financial Times, the paper’s Russian owner Evgeny Lebedev… Read More
31st January 2019
A Louis Vuitton sales assistant at Selfridges, Manchester, has been jailed for two years and six months over her role in a scheme which involved using the stolen details of unsuspecting customers to make fake VAT claims and cash in on the refunds. The Salford-based woman copied the passport details… Read More
30th January 2019
The United Kingdom has dropped out of the league of top ten countries perceived to have the lowest levels of government corruption, while the United States has tumbled out of the top 20 states, according to the new Corruption Perception Index. The rankings, which list 180 countries and territories by… Read More
29th January 2019
The United States on Monday charged China’s Huawei Technologies Co Ltd, its chief financial officer and two affiliates with bank and wire fraud to violate sanctions against Iran in a case that has escalated tensions with Beijing. In a 13-count indictment filed in New York, the Justice Department said Huawei… Read More